How to Adopt a Growth Mindset and Sell More Products

BY ANGELA FERNANDEZ, VICE PRESIDENT, COMMUNITY ENGAGEMENT, GS1 US

Even though entrepreneurs wear many hats and juggle a number of activities, finding time to focus on the big-picture strategy for your company is one of the most important ways a small business can grow in today’s digitally-focused and competitive retail world.

Even if your product is only available in select stores, your online footprint is increasingly critical to reaching consumers who want to be able to research your product before buying it. In fact, a recent study from Salesforce and Publicist Sapient revealed that 87% of consumers begin their product searches online.

Also, online marketplaces with built-in fulfillment platforms and automated inventory management services have made it easier for sole proprietors to reach wider audiences. But to play ball with these retail powerhouses, their requirements for product identification numbers and detailed product listings must be taken seriously.

Follow these three steps to determine if you have what it takes to grow.

THINK LIKE A BUSINESS There’s a significant difference between launching a product and growing a company. According a study conducted by GS1 US, in collaboration with Longitude, 51% of those who start a small brand do so to pursue their passion, ambition, or skill.

Starting with passion is just that--a good start. Focusing on customers and their needs is an important foundation for growth, which needs to be gradually layered with a real sales channel strategy. For example, your unique line of tote bags is selling well at the local gift shop. Research suggests that expanding from local stores into e-commerce with a partner like Amazon, ebay or Etsy can lead to steady revenue growth.

In the GS1 US study, the small businesses classified as “leaders” (those who grew their sales more than 25% in the past year) use as many as three sales channels. This is compared with “laggards,” (those whose sales declined in the past year), who only typically only sold through one channel.

Multichannel shoppers usually prove to be worth the investment, too. Typically, those who shop in store and online spend $93 more on average than those who only use one channel, according to the National Retail Federation.

FOCUS ON THE INFORMATION Congratulations! Your product has been accepted by a major retailer. Now is the time to prove your product deserves to be featured alongside the world’s largest brands. Catch the attention of discerning consumers and build brand loyalty from the outset by providing rich product content.

This means going beyond the basic specs of the product and painting a picture for the customer in words, images and video. A recent survey by Salsify found that digital shoppers expect an average of about six images and three videos when looking at a product on Amazon or another retailer.

Additionally, hedge your bets by making sure your target audience finds the product in the first place. Not only is the use of properly constructed UPC barcodes a key requirement for working with all the largest retailers, it effectively links your brand to your physical product and its representation online. In fact, the GS1 US study found that 57% of growth leaders say UPCs make their products more discoverable online.

SEEK GUIDANCE To manage multiple channels effectively, it often takes a village. Supplement limited expertise, time, and resources with that of external partners who can help you keep up with retailer demands and grow the business. Many small businesses may be unaware of the many services available to support up-andcoming small brands. There are solution providers who specialize in tasks like barcode printing and labelling, for example, and can demystify these unfamiliar processes. With the ever-changing nature of e-commerce, there is a wide array of online content providers who can assist with website optimization and product listings, too.

So, where will your company be in five years? Will you be a leader or a laggard? Prepare for growth and success now by adopting a more strategic mindset to manage your growing business.

Angela Fernandez, Vice President of Community Engagement, GS1 US afernandez@gs1us.org www.gs1us.org

Centrell Reed - CReed Global Media Like a Sunflower, Spreading Seeds of Knowledge for a Pathway to Success

Centrell Reed, President and owner of CReed Global Media, embodies the meaning of her name, which, according to her mother, means beautiful sunflower. Just as a sunflower spreads seeds, she also spreads seeds - seeds of knowledge for a pathway to success. Her lifelong propensity for coaching and mentoring others has led to her improving the confidence and healthy habits of young girls and enhancing the success of business owners. Not only has her knowledge and life skills touched the lives of many people, it has led her to develop and grow a thriving global media company. BY MARY J. WEST

After launching in 2018, CReed Global Media (CGM) has grown to garnering clients from all over the world including Germany, China, and Australia. CGM’s impressive network of collaborators offers a range of services to help aspiring entrepreneurs that include video production, consulting, and television distribution. Even though Reed’s role as President has been a labor of love, it has also been an intense one. “Being an entrepreneur has

been one of the most draining, rewarding, surprising, up-and-down-emotional-rollercoaster type experiences that I’ve ever had in my life,” states Reed.

Centrell’s pathway to success stems from her take-charge, can-do spirit that gets its roots from her childhood. The oldest of four children, she learned responsibility by helping care for her younger three siblings. Reed participated in an array of activities including school sports, music lessons, student government, and speech; all of which exposed her to a broad swatch of life. Her leadership skills were also evident from a young age, manifesting in honors like being named president of the church choir, president of her youth and government organization in school, and secretary of her Sunday school.

This living embodiment of a sunflower’s first opportunity to spread seeds of knowledge came when she was a very young girl. It involved teaching children in her grandmother’s daycare center how to read. Her proclivity to help others in any way possible would continue to be expressed in all her undertakings. It was in the daycare center that Reed first learned basic fundamentals about running a company. Later, other entrepreneurs in her family would further her business acumen. These included her dad who had a communications company, a grandmother who had a sewing business, and another grandmother who had a pies and cakes company. Photo by Gwen Juarez

Referring to her family legacy of entrepreneurship, Centrell reflected, “I just think that it was something I saw a lot. I learned that when you have the ability to do something and provide a valuable service or product to people, then why not?” While entrepreneurial role models have influenced Reed’s life, her competitive spirit has likely also played a part in her present success. She traces this aspect of her personality back to the many hours she spent playing games during childhood. Yet the focus of her competition was not on beating others, it was about being the best she could be. “There’s something in me that says, ‘I don’t necessarily need to compete with you.’ It’s just about seeing how good I am,” she clarifies.

Reed’s competitiveness is the impetus that challenges her on a daily basis. “I challenge myself to see what I can do, what I can accomplish, who I can impact, and how I’m going to leave this legacy in the world. Every day, the challenge is different. That is the competitive nature in me.” Despite the desire to win, no one wins all the time; and Centrell is philosophical about this reality. Win or lose, she enjoys the experiences gained. In 2015, Reed became a member of the board of directors for the nonprofit organization called Girls on the Run Greater Houston. Since then, it was been her delight to spread her seeds of knowledge, this time by working with the board to enrich programming for young girls from third through eighth grade in learning valuable life skills such as discipline and goal setting.

Because of the difference Centrell has made in her work for the nonprofit, she was asked to do a radio show where her coaching and mentoring could be done on a larger scale. Such a prospect was out of her comfort zone. After declining a number of times, she finally agreed. “I was thinking I can coach on a one-to-one basis or in intimate groups, and that should be enough. Well, I guess it wasn’t. I wound up doing it because the bigger goal was to be selfless, right? Although I’m still finding my legs, it has brought me to owning my own media company,” stated Reed.

The transition from radio show to the establishment of CGM was quite interesting. After being on the air for only a few months, Centrell left the radio show to produce her own show with her team. People began asking Centrell how they could do what she was doing. In pondering how to answer, she started looking for

the ways and means to meet their media needs. During this quest, she learned many things, including identifying exactly what she could bring to the world; the culmination was CReed Global Media. Reed likens the evolution from radio show host to president of a major global media company and television network to an “amazing journey.”

Ms. Reed explained that CGM has expanded its services to include a fully fledged, on-demand streaming television network on Roku, Apple TV, Amazon Fire, Chromecast, and Android and IOS mobile phones. This puts CGM in the ranks of HULU, Sling, and Netflix, to name a few. With a model that provides content creators revenue from subscriptions and advertisements, this is quite an amazing feat! CGM is also a production company that provides videography services to help clients become more visible in the marketplace. “In media, video is king these days. You’re educating the world so they can engage and connect with you. That’s the platform that I stand on,” notes Centrell. “This education may include the brand benefits of commercials, podcasts, sizzle reels used on social media, owning your content, and monetizing your brand. All of those things are visual assets that add value. We create videos to tell stories about a company, theme, or idea,” says Reed. The CGM team works together to do everything from fine-tuning the initial concept to curating and distributing the video message.

While the major part of Centrell’s company deals with videography and television distribution, the collaborating partners are important as well. They include cameramen, sound engineers, graphic design artists, editors, public relations professionals, writers, producers, directors, make-up artists, stylists, talent, and other supporting cast. In other words, when clients come to CGM with ideas they want brought to life, the process involves contributions from a wide scope of people with diverse talents. Reed keeps a database of partners in the Houston area to enhance her team and support the entertainment community at-large. Photo courtesy of Centrell Reed

CReed Global Media Television is an OTT network showcasing shows and channels of invigorating content from creatives on Roku, Apple TV, Amazon Fire TV, Chromecast, and apps on Android and iOS mobile devices.

Reed appreciates the fact that her efforts are equipping people to understand how business works and to have a better chance at having their dreams come to fruition. “It can take money to make money, and not all aspiring entrepreneurs have the necessary funds. Some may have people interested in investing in their ventures,” explains Reed. “My coaching propensity drives me to advise them to ‘own’ their project whenever possible. When someone buys an idea, you normally get a single payment; whereas when you own the idea, you receive royalties and residual income. That’s legacy.”

CReed Global Media has grown a great deal and is ever evolving since its inception. Since that time, CGM has hired new employees, worked with the City of Houston Workforce Solutions, collaborated with many businesses, and worked with many interns from Houston colleges and universities that include University of Houston, Texas Southern University, and Houston Community College. Reed appreciates and values the contributions of her team. “Without my team, I probably would have stopped a long time ago because I would have never thought of all the little things that make a big difference. They’ve been integral to the reason why I started this. Human capital is very valuable. To find the right people, you seek those who are passionate about their work, whether it is creating quality videos, editing, or executing quality projects.” In addition to all she does, Ms. Reed founded, in April of 2019, the Houston Entertainment Industry Task Force (HEITF) which has received the support of Houston Mayor Sylvester Turner. The HEITF is an integral arm of the International Entertainment Partnership (IEP) with a mission to expand the entertainment industry through investment opportunities, jobs, resources, and economic development for diverse communities starting in the Greater Houston Region.

When envisioning the future of CGM, Centrell is always forward looking and positive. “We want to do more because there’s a lot to be done.” As Reed speaks, you get a sense of her excitement at the potential represented by ventures brought to her company. When approached by a client, she never knows whether the fruit of her staff ’s efforts could result in the next big movie or big movement. Yet regardless of the number or magnitude of successes CReed Global Media helps create, one thing is for sure, Centrell, like a sunflower, will continue spreading seeds of knowledge to those fortunate enough to meet her on the pathway to success.

For more information on how you can take your company or idea to the next level, contact the CReed Global Media Team by phone at (713) 892-5717 or by email at info@CReedGlobalMedia.com. You can also visit www.CReedGlobalMedia.TV, www.CReedGlobalMedia.com, and www.IEPGreaterHou.org.

5 Tips to Recession Proof Your Business

There is heavy speculation about whether or not there will be a U.S. recession in the next year or two. While some indicators are pointing to a growing chance of a U.S. recession, the truth is that no one knows for sure exactly when the next one will happen. BY FREDERICK CROSBY

Economic downturns are a fact of life when you’re running a business, but there are steps that you can take now to ensure your business is prepared to whether a storm and come out stronger.

Here are five tips to help recession-proof your business.

1. Focus on finances

Whether a business can set aside a year or three months’ worth of cash, it is crucial to create a fund that will mitigate risk during emergencies or provide options to capitalize on buying opportunities. Don’t forget that more countries are entering the “tariff war” with the U.S. - there is a pending trade dispute between the U.S. and China, and there are more than $7.5M tariffs on exports from the European Union.

Businesses that find alternative solutions and adjust their supply chain network to avoid additional taxes and fees have an undoubtable advantage.

3. Stress test your business

A stress test is used to identify a business’ strengths, weaknesses, opportunities, and threats.

A stress test allows business owners to plan for worst-case scenarios and preview different crisis scenarios. This can in turn help you determine how your business would respond and create contingency plans to address vulnerabilities.

Keep close tabs on receivables, but remember that in a recession your customers may also be feeling the effects. Offering payment installments can go a long way toward helping customers get through tough times and increase consumer loyalty.

2. Examine your supply chain processes Take a close look at your inventory practices.

Consider whether you are consistently ordering too much of a particular item. Are there suppliers that offer the same goods for less? Do any of your suppliers give discounts for bulk orders?

4. Customer first

This is an area where business owners cannot be caught complacent.

Get creative with strategies that attract interest, earn trust, and encourage loyalty. Look at what tactics your competitors are using and identify opportunities where you can do better.

Companies that excel in a recession are those that don’t sacrifice customer experience. Cost-cutting solutions that look good on paper do not always translate to real-time success. If it drives customers away, pivot your planning to accommodate your base. Take steps to improve your customer experience before a recession by analyzing customer behavior data. Customer insights will help owners understand wants and needs, buying habits, and how to better serve them. These insights are a business owner’s Holy Grail for attracting and retaining customers before, during, and after an economic crisis.

5. Don’t neglect marketing

An economic slowdown is an opportunity to distinguish your business from competitors. Highlight how your products or services are superior or unique with marketing strategies that don’t break the bank. There are many cost-effective ways to get your message out, including social media and training employees to be brand ambassadors.

While cutting marketing costs may ease your budget in the short-term, it has the potential to hurt lead generation and brand awareness.

The threat of a recession has been a prominent discussion in the media over the past few months. The secret to weathering an economic storm is proactivity.

Preparing ahead of time will set up your business to not only survive an economic crisis, but emerge even stronger and more successful.

Frederick Crosby is the Chief Revenue Officer of Veem, the global payments network built for business. To contact Veem please visit https://www.veem.com/

Finding Hidden Business Referrals

BY GAIL STOLZENBURG D id you know that 98% of entrepreneurs rely on networking and referrals to build their business? And, only 3% have a networking plan? Do you have a plan? Throughout the day we are exposed to a number of hidden referrals that we miss because we are forgetting to focus on them. Thank goodness we have a part of the brain that can do the work for us. It is called the Reticular Activating System (RAS), a bundle of neurons found in your brain, about the size of a very large pencil, which acts as a filter for deciding what is important or unimportant. For a networker, this could possibly mean living an extraordinary life.

Here are some examples of RAS: (1) if you were in a large crowded room with announcements being made and your name is called, you would pick up on it immediately, (2) you had just purchased a new red sports car and when you went for a drive you began noticing a number of red sports cars on the road, (3) when you hear a new word, you begin hearing it in every conversation, (4) Dr. Ivan Misner, the Father of Modern Networking, talks about being able to sleep through anything, even an automobile accident occurring right outside his front door. But, when he got married and they had their first child, he would wake up when there was just a simple whimper. You may have had some of the same experiences. That is your RAS in action.

Our problem in networking is that we are paying too little attention to the clues we receive about referrals. You need to listen to the “Language of Referrals” and the clues being left for you.

So, what are some of the clues you should be listening for? When you hear someone say, “Do you know”, “I need”, “I want”,” I don’t know how”, “I can’t”, the next few words will probably describe a potential referral you can give someone. All you need to be doing is to pay attention to the phrases which indicate there is a need of something, then find a referral to help the person. You will become the “Go-To-Guy” and people will be asking your advice, recommendations, and referrals. Instead of giving referrals to someone else, you really wanted referrals for yourself, right? There is the paradigm shift from getting the referral for you to giving it to someone else. It’s called the Law of Reciprocity, Givers’ Gain®, Servant Leadership, or just Give to Get. The top networkers always begin by listening to the other person and then giving referrals based on the information they have learned. You will receive many more referrals using that philosophy. Read “The Go-Giver” by Bob Burg and John David Mann to learn more about applying this new thought process.

How can your RAS help you get the referrals you want? Champion basketball players visualize making the 3-pointer. Artists visualize the final result. If you think about a specific referral you want to receive, your RAS will detect it is important to you and focus on getting it. Vision boards, goal setting, sticky notes, and daily journals are all part of the process. RAS can never be defined as being all-powerful but it does respond to your desires.

Here is a three step process that may help you train your Reticular Activating System::

1.Define specifically what you want, let’s say it’s a referral for a specific business project. 2.Imagine the experience you will have when you receive the referral. 3.Create a video in your mind of exactly how your life will be in the future when you achieve what you want. Employ all of your senses: notice what you are seeing, how it makes you feel, the sounds you are hearing, a taste in your mouth, and feel the things you are touching.

Many people will make a list and keep it with them at all times. Brian Tracy rewrites his goals every morning.

So, instead of sitting back and waiting for it to happen, you must get into action. Prepare for your networking sessions, know who is attending, develop an agenda and goals for the session,

continued on page 25

continued from page 10

Starting now, employers and youth can visit www.HireHoustonYouth.org to get started. Companies can also donate to the Hire Houston Youth Foundation at www.hirehoustonyouth.org/donate. You can also post your jobs at www.hirehoustonyouth.org/employer.

According to the Greater Houston Partnership, 35-40 percent of the jobs in Houston do not require a college degree, but they do require skills and training beyond a high school level. The GHP is working with my administration to build a strong regional economy and enhance the quality of life and opportunity for all young people by building pathways to success.

The Hire Houston Youth application process opens on February 10, 2020. Please visit www.hirehoustonyouth.org/youth.

THE FUTURE OF OUR YOUNG PEOPLE AND HOUSTON’S WORKFORCE IS AT STAKE.

I hope you join me to increase access to quality ‘earning and learning’ opportunities for all Houston youth.

If you have any questions or need more information, please feel free to contact us at hirehoustonyouth@houstontx.gov.

chains, clothing stores, pet shops, travel programs, hotels, department stores and specialty retailers.

Rewards programs are predicated upon points, spending, levels of loyalty and VIP memberships. Some are value based programs where customers become brand ambassadors. There are partnered programs, gaming programs and hybrid rewards programs. Gift card programs widen the appeal to friends of existing customers.

Airline loyalty programs offer points on future flights. Hotel loyalty programs offer bonus stays and access to a wider selection of hotels than customers might find through their own research. Loyalty programs for rental cars get free upgrades for cardholders. Punch cards for free food in restaurants have been a staple of the hospitality industry for 70 years.

Banks charge a fee for rewards card programs. This accrues points for use on a variety of purchases. The gold card gets holders a printout of purchases by category, which is useful in tracking business expenses and in preparation of taxes.

Grocery store rewards program include points toward discounted gasoline, special discounts (such as four times fuel points on credit card sales), quantity discounts on sale merchandise and specials that were not on the weekly sale circular. buy from their favorite store. They return often and refer new customers. 82% of adults say they are loyal to brands. 63% of customers will modify their spending in order to maximize loyalty benefits.

A 5% increase in customer retention will increase company profit from 25-96%, depending upon the product, seasonality and coordination with other marketing.

Stores with loyalty programs can send emails to users, including newsletters, new product introductions, recommendations for bundling and cooperative offers with other retailers.

With loyalty programs come the opportunity to conduct customer research. Surveys can test new product offerings, learn differences of the company from its competitors and glean insights into how to do things differently. Think of the loyalty program as an online focus group. 79% of customers prefer businesses who show that they care. Customers will support cause related marketing and charity tie-in promotions that appeal to them.

Loyalty programs have created many companies who operate the software for tracking purchases, research on consumer buying habits and specialty marketing firms in the digital age. With Loyalty Programs Come The Opportunity To Conduct Customer Research.

Reward programs for internet purchases include Amazon Prime, where the upfront annual fee gets VIP services such as free shipping, special offers and access to specialized services. This is instead of transactions first and rewards later. When rewards programs are done wrong and without adequate coordination, they may be a waste of time and resources, becoming a burden for customers with little interest in getting into the program.

Many loyalty programs include applications for faster checkout, bonus points and special offers. Retailers offer private sales, information on products and brand gifts for purchases past set goals.

The Panera Bread loyalty card program generates $2 billion per year in digital, mobile, web and kiosk sales. Coffee chains offer free points, mobile payment, advance orders, access to WiFi and special events.

Loyal customers mean more business, increased repeat sales and destination purchases. This saves marketing to wider nets, many who will not turn into customers.

It requires 5-25% more to acquire new customers than to sell to existing ones. Regulars spend 67% more than new customers. Engaged customers are five times more likely to Companies need to create the best rewards program for their business. Rewarding customers has the advantage of immediately motivating incremental spending. Customers will happily identify themselves with succeeding visits, giving the data the company needs to create deeper customer connections and motivate targeted behaviors.

Contact information for Hank Moore. Website: http://www.hankmoore.com. Email: hankmoore4218@sbcglobal.net. Phone: 346-777-1818. Hank Moore has advised 5,000+ client organizations, including 100 of the Fortune 500, public sector agencies, small businesses and non-profit organizations. His Legends books have been nominated for the Pulitzer Prize.

Show Your Sales Team How to Be Successful

BY CAROLINE PETERSEN, FOUNDER AND CREATIVE DIRECTOR OF GALLERY DESIGN STUDIO S ales is about personality and building trust, and a good salesperson knows the industry they are working in like the back of their hand, which is why helping your sales team learn your industry and what you offer with a visual guide is one of the best investments you can make. With SaaS technology becoming more popular by the day, finding new leads has become easier, but how do you build a relationship over email or the phone? If a fellow entrepreneur is willing to give you the time of day, then you know she/he is interested in what you offer and have to make it worth it by getting to your point. Make sure your sales team knows what to say by creating a visual toolkit so they understand why you are pitching this particular person your business. While it does not have to include everything, it can be done in several ways including: •Bolding important numbers that show adding your company to their payroll will immediately benefit who your sales team is contacting •A word cloud they can email showing how many others in the potential clients industry are taking advantage of what you offer •Arrows showing how businesses saved money or increased profits using your services •Block quotes of clients who have used your services that can be read easily over the phone Using methods such as these will help them remember the information your sales representative needs to know. Why? Because over half of the people in this world are visual learners and need to see information to fully absorb it. In fact, using visuals in any handbook has helped employees do their jobs because they actually look at what you want them to know. Many companies are also using similar methods for their sales teams with videos. And why not? Just think of the movies you have watched. Why do you think it has been easier to remember what a great effect looked like, or why a pivotal scene is stuck in your head, and not what a potential client you spoke to said? Because the movie was done in a way that was compelling enough for you to clearly remember what occurred. Businesses can do this too by creating video graphics of facts, numbers, or other pertinent information that helps employees remembers them because they were presented in the same “movie magic” way. While SaaS is great at generating the leads you need, it does not tell you who the person you are calling is. What are their hobbies? Which sports teams does she/he watch? What music do they listen to? And let’s face it, if they are as busy as you are, your goal is to find this out later as you develop the relationship, which makes the information you put in front of your sales team all the more important. Do not get me wrong, SaaS technology has tons of advantages but you have to use it right. If you get 100 contacts a day, chances are you will only hear back from 10 of them, which means you probably need two of them to sign a contract to make your sales representative time worth it. But if your team is looking for information to keep those 10 companies enticed, you have a problem. Putting visual facts in front of your sales team will allow them to respond immediately and consistently which, by the way, has proven to save companies money. So if your sales team is slowing down, or you think they can do better, give them the visuals they need to succeed.

Caroline Petersen, Founder and Creative Director, Gallery Design Studio, https://www.gallerydesignstudio.com, caroline@gallerydesignstudio.com

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Centrell Reed CReed Global Media Profile

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focus on listening rather than talking, ask questions, be interested rather than interesting, develop the habit of Toni Harris Taylor and set at least three appointments at each networking event, and follow up with a thank you note. continued from page 21

You may have heard about “The Law of Attraction” and now it may seem less mystical. By becoming more aware of want you want and tuning in to the right information, your RAS can help you succeed. However, there is no magic or silver bullet in networking. You must expend the effort to produce the results. When you learn to utilize your Reticular Activating System, you will produce more referrals for others and generate more referrals for yourself. You can start applying this approach to the other areas of your life like family, career, and adventure. You will be amazed. - Your Network is Your Wealth! -

Gail “The Connector” Stolzenburg Author of CONNECTIONS: Contacts to Clients Gail@GailStolzenburg.com 281 493 1955 www.GailStolzenburg.com